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Foreign Exchange

FX news: Record volumes reported

ICAP set the ball rolling this week, putting all other reported volumes in the shade.

Average daily volumes on spot FX broking platform EBS increased 60% year on year to $214.9 billion (single count) in May. Compared with April’s average daily volumes, which were a still impressive $154.2 billion, the new figure is staggering.

Almost as impressive were the figures reported this morning by Thomson Reuters although its figures are for the full suite of ‘Thomson Reuters Dealing, Matching and Reuters Trading for FX’. Average daily volumes for May were in excess of $186 billion, an increase of 35% over April’s figures and 65% higher than in May 2009.

CLS told us this week that Tuesday June 1 had been a record day. It successfully settled 1,758,902 instructions, with the total value settled at $5.688 trillion. This beats its previous record of 1,733,262, settled on February 16 2010.

Rob Close, CEO of CLS Group and president and CEO of CLS Bank International, said: “This record follows a significant surge in trading volumes since the beginning of May as a result of market volatility, and the UK and US public holidays yesterday. In May CLS Bank settled an average of 1,056,558 instructions per day, with an average daily value of $4.229

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